NOTE: the survival of our Republic is threatened by two things -- fundamentalist Islamic terrorists and Hillary Rodham Clinton. President Bush is leading the fight against the terrorists. It is up to those of us who know the real Hillary Clinton to lead the fight against her. We must shine the light of truth on this dangerous woman so that all Americans may know the real Hillary.

#26 in the continuing series.

Madison Dies, Hillary Lies, What a Surprise

Hillary Clinton tried very hard to hide her role in the failure of Madison Guaranty. She has claimed she was the "billing attorney" and really was hardly involved with Madison. From Professor Martin Gross, THE GREAT WHITEWATER FIASCO, we can discover the truth and why Hillary wanted to hide those billing records.

In 1985, it was obvious that Madison should have been closed. Delaying the demise of Madison cost the taxpayers perhaps another $30 million. Overall, the loss to the taxpayers was about $68 million. Let's look at what really happened.

* in 1984, Madison was looking shaky to federal investigators * the Dallas Federal Home Loan Bank Board (FHLLB) put up a red flag and said that the "viability of the institution is jeopardized " * June 21, 1984 - Lee Thalheimer, chief of the Arkansas Securities Department, called the situation "very serious" * Early warnings happened in 1983 when banking chief Marlin D. Jackson informed the governor that Jim McDougal's outfit was issuing a host of bad loans * Frost and Company did an audit and strangely said the bank was solvent * Madison turns to Rose Law Firm for legal help. Hillary was getting a $2,000 per month retainer from McDougal for just such an emergency * Jan. 1985 - Clinton replaces the Securities Department chief with a friend, Beverly Bassett. She was the sister of Clinton campaign chief in Washington County. * Rose Law firm creates unique plan to sell stock in the failing operation, and petitioned the Arkansas Securities Department to permit Madison to start a stock brokerage subsidiary. * An assistant of Hillary wrote to letters to Bassett behalf of Madison the claim "the applicant anticipates that no deficiency will exist in the near future" * A month later, the Rose lawyer writes an even more optimistic assessment. The woman who claimed that she was not involved had her name plainly printed on the letter. The letter stated that if the Securities Department wanted more information they should get back to Hillary Rodham Clinton or her assistant. * In later testimony, Hillary claims she was only "the billing lawyer," as if that was nothing. * the letter from the Arkansas Securities Department granting approval for the speculative refinancing was addressed not to the Rose Law Firm, but simply: "Dear Hillary" * July 11, 1985, McDougal ties Hillary directly to the scheme with a letter to John Latham, chairman of Madison. "I need to know everything you have pending before the Securities Commission (of Arkansas)" .."as I intend to get with Hillary Clinton within the next few days." * there was a great fiction (translate: lie) that Hillary and McDougal had no input into who was chosen as state regulator. To the contrary, McDougal had bragged that he recommend Basset in the first place to Clinton--that it was "to his advantage." That has been denied by the Clintons.

Of course Hillary had a reason to hide those billing records that were under subpoena. Being responsible for an additional $30 million hit on the taxpayers was not good for the resume.

Professor Gross, no Clinton hater, really had this whole deal nailed early on in the game. Madison had a net worth of only 1 percent of its assets n 1984. The benchmark was at least 3 percent, which wasn't very high itself. The piggy bank continued to be raided instead of being shut down. Hillary and her Rose Law Firm were responsible for delaying its shutdown of behalf of her client, Jim McDougal. She cost all of us an additional $30 million. But her damage was not finished, as you shall see in the next episode. Stay tuned.

This is very complicated. It was really too bad that the people, including reporters, have been so dumbed down that they couldn't understand it. I supposed a jury would have never convicted Hillary, but Starr should have indicted the witch anyway to get the evidence out there. Hillary must be stopped.

It was not too difficult for the students of my real estate law class at Chaffey College. They learned real world lessons of how loan and bank fraud is committed.

2
posted on 01/24/2003 8:54:34 AM PST
by doug from upland
(May the Clintons live their remaining days in orange jumpsuits)

Thinking of Hillary brings to mind that film entitled "Damian" from a few years back. I wonder if anyone has ever checked under her hair for a tattooed 666. She and her esteemed husband have managed to commit the most heinous of acts and always escape the consequences. If you recall the film, Damian comes within a few moments of his comeuppance but is saved by the forces of darkness (and poor Gregory Peck/Vince Foster perishes in the process.) Is anyone out there ever going to expose them to the light?

Damien is the spawn of Satan. His parents have no idea that their own baby was murdered after its birth and he was substituted. (He was born to a she-wolf.) Anyway, when his adoptive mother catches on that something is amiss, he kills her. When his father, an Ambassador, played by Gregory Peck, finds out the truth, he decides to kill him on a church altar. But, he is shot by the local police before he can complete the task.

In The Omen II, Damien is a grown man who becomes Senator with his eyes on the White house. Very scary - - the thought, not the movie.

Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.